With a role steeped in tradition, the company secretary may not be the first person you think of when you consider the adoption of technology. The introduction of technology into legal operations facilitates the access to corporate documents and data from international subsidiaries, and allows for correct tracking and maintenance of compliance related activities and decisions. This helps legal departments to become more efficient hence increasing their productivity.
Technology as an enabler:
Technology is becoming vital when it involves corporate compliance. Below are some of the ways technology has become influential and are as follows:
1. E-signature systems where the local legislation allows, removes the need for a face-to-face meeting in order to sign documents. This can make the company filings faster and convey efficiency to your legal department.
2. Entity management systems offers instant access to corporate information and relevant documents, which can help general counsels to report discrepancies to top management, and support their strategic decisions when it involves advising where to take a position or close operations.
3. It’s used to conduct routine work which reduces administrative burden and the risk of human error that may occur which improves the overall quality of the work and speed up the process.
4. Virtual meetings have enabled easier co-ordination within companies reducing the time needed for business travel.
E-Board System
This is a system that provides a shared, secure space for board directors to access board documents, and collaborate with other directors. Documents or other assets stored on the platform are viewable only by those given access by the software administrator. The service is designed to assist corporates in the management of all meetings, be it committee meetings, board meetings, AGM’s or EGM’s.
Some of the key features of E-Board include; integration with outlook and Google calendar, unlimited guests, powerful agenda module, customizable agenda templates, task management system with outlook integration, professional meeting minutes layouts, agenda and minutes approval process with active directory synchronization and permission system with security roles.
Key Takeaways
In a world where cyber-attacks are the new way of putting a company’s reputation in question, it’s adamant to see the safety model and hosting options of the vendors of the entity management systems. When it’s decided which entity management system you’ll work with, it is sensible to schedule a periodical checkup, ensuring that the web information and documents are the absolute reflection of the information and documents available in the public and statutory records of the companies. Even if you’re certain that your entity management system contains accurate and up so far information, which your e-signature system complies with the local legislation of the many countries, electronic copies won’t be enough to some local authorities, et al. may require additional security measures when it involves personal data. It is always recommended to possess permanent access to an area material expert who can provide you with the newest requirements of the jurisdictions where you’ve got interests or operations.
HOW WE CAN HELP
As Imperial Registrars, we help companies to become and remain compliant with local and global requirements. From set-up to liquidation, our professionals’ lookout of recurring filings, routine corporate changes and retrieval of corporate documents from official registries, like certificates of excellent standing. Having a trusted partner is imperative to creating your corporate secretarial operations more efficient. Get in touch with us for more clarification. (Info@imperialregistrars.co.ke)
